Job Costs, Ending Work in Process

During March, Aragon Company worked on three jobs. Data relating to these three jobs follow:

Job 78Job 79Job 80

Units in each order 180 220320

Units sold 220

Materials requisitioned $1,296$1,276$3,456

Direct labor hours 198 242512

Direct labor cost $2,772$3,630$4,710

Overhead is assigned on the basis of direct labor hours at a rate of $8.90 per direct labor hour. During March, Jobs 78 and 79 were completed and transferred to Finished Goods Inventory. Job 79 was sold by the end of the month. Job 80 was the only unfinished job at the end of the month.

Required:

1.Calculate the per-unit cost of Jobs 78 and 79. Round your answers to the nearest cent.

Job 78 $per unit

Job 79 $per unit

2.Compute the ending balance in the work-in-process inventory account. Round your answer to the nearest cent.

$

3.Prepare the journal entries reflecting the completion of Jobs 78 and 79 and the sale of Job 79. The selling price is 120 percent of cost. Round your answers to the nearest cent.

Completion of Finished goods

Jobs 78 & 79 working process

Sale of cost of goods sold

Job 79 (cost) finished goods

Sale of accounts receivables or cash

Job 79 (sale) sales revenue